Long-term investment in bitcoin has reached an all-time high
Yet one the indicator signals the formation of a bullish trend
IN last once the record has been set yet in 2016
More and more participants cryptocurrency market withdraw assets from exchanges, anticipating new rally
International consortium news organizations, developing transparency standards.
Last time record was delivered in May 2016, exactly one year before the start of the famous cryptocurrency rally
Bitcoin’s HODL wave reaches record highs with an annual (or more) interval.
The previous high was set on May 5, 2016, when the HODL wave surged to 61%.
Since then, the percentage of bitcoins that have been in wallets for a long time has steadily dropped to 41% in May 2018..
Wind of change
Despite the fact that the price of the leading cryptocurrency is still below the $ 12 mark 000, HODL waveform readings may signal the beginning bullish trend.
Along with this, the reserves of the largest cryptocurrency in terms of capitalization on exchanges are falling.
According to the analytical resource Glassnode, since mid-April 2020 years total balance of bitcoin on wallets of all cryptocurrency exchanges began to decline steadily, dropping to the end level 2019 of the year.
Though indicators interest is not a 100% indicator of future growth prices asset, record numbers open positions helps to get a general idea of market activity, as well as the level of liquidity and the inflow of fresh capital.
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